# 159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif

## Micro Economics As Level Revision Notes Series Book 3

  
**TABLE OF CONTENTS**  
**UNIT 1 THEORY OF CONSUMER BEHAVIOUR**  
CARDINAL APPROACH  
Law of Diminishing Marginal Utility:  
Law of Equi-marginal Utility  
ORDINAL APPROACH:  
Budget line  
Indifference Curves  
Consumer Equilibrium through the Ordinal Approach:  
PAST PAPER QUESTIONS  
**UNIT 2 PRODUCTION AND COST**  
THE LAW OF DIMINISHING RETURNS (LAW OF VARIABLE PROPORTIONS):  
LEAST-COST INPUTS COMBINATION IN THE LONG RUN:  
ISOCOST AND ISOQUANT APPROACH:  
SCALE OF PRODUCTION AND RETURNS TO SCALE:  
SHORT-RUN COSTS:  
RELATIONSHIP BETWEEN SHORT-RUN COSTS & LAW OF DIMINISHING RETURNS  
ECONOMIES AND DISECONOMIES OF SCALE:  
SMALL FIRMS:  
PAST PAPER QUESTIONS  
**UNIT 3 RULES OF FIRM'S BEHAVIOUR**  
1 ECONOMIC THEORY OF PROFIT MAXIMIZATION  
2 BUSINESS CONTINUITY RULES  
3 TYPES OF PROFITS  
PAST PAPER QUESTIONS  
**UNIT 4 PERFECT COMPETITION**  
PRICE AND OUTPUT DETERMINATION IN SHORT RUN  
SHORT-RUN PRICE AND OUTPUT DETERMINATION:  
Types and Determination of Profit  
The Shutdown case of a perfectly competitive firm  
Derivation of the supply curve of a perfectly competitive industry in the short run  
PRICE AND OUTPUT DETERMINATION IN LONG RUN  
IS PERFECT COMPETITION A REALISTIC MODEL?  
**UNIT 5 MONOPOLY**  
PRICE AND OUTPUT DETERMINATION IN SHORT RUN  
Types of profits:(Micro Economics As Level book 3)  
Types of losses  
PRICE AND OUTPUT DETERMINATION IN LONG RUN  
BARRIERS TO ENTRY  
**UNIT 6 MONOPOLISTIC COMPETITION**  
PRICE AND OUTPUT DETERMINATION IN SHORT RUN  
PRICE AND OUTPUT DETERMINATION IN LONG RUN  
**UNIT 7 OLIGOPOLY**  
PRICE AND OUTPUT DETERMINATION IN OLIGOPOLY  
Kinked Demand Curve  
Price Leadership  
Cartel:  
Game Theory  
MERGER AND INTEGRATION (MCQS ONLY)  
**UNIT 8 COMPARISON OF MARKET STRUCTURES**  
**UNIT 9 OBJECTIVES, DISCRIMINATION,& CONTESTABILITY**  
OBJECTIVES OF FIRMS  
PRICE DISCRIMINATION  
CONTESTABLE MARKETS  
THEORY OF EXCESS CAPACITY  
PAST PAPER QUESTIONS  
**UNIT 10 ECONOMIC EFFICIENCY AND MARKET FAILURE**  
PRODUCTIVE EFFICIENCY (PE)  
ALLOCATIVE EFFICIENCY (AE)  
MARKET FAILURE:  
1-allocation of resources:  
2-allocation of resources:  
3 Markets of Public Goods:  
4 knowledge  
5 immobility  
6 termism

([**Micro Economics As Level book**](https://readnwrite.org/product/micro-economics-book-1-as-level-notes/) 3)  
GOVERNMENT MICROECONOMIC OBJECTIVES:  
POLICIES TO CORRECT MARKET FAILURE OF NEGATIVE EXTERNALITIES AND DEMERIT GOODS  
1 Taxes  
2 and Regulation  
3 bodies  
4 in property rights  
5 of Information  
6 Permits  
POLICIES TO CORRECT MARKET FAILURE OF POSITIVE EXTERNALITIES AND MERIT GOODS  
1  
2 and Regulation  
3 of Information  
4 Direct Provision of Goods and Services  
POLICIES TO CORRECT MARKET FAILURE OF PUBLIC GOODS  
POLICIES TO CORRECT THE MARKET FAILURE OF IMPERFECT MARKETS  
COST-BENEFIT ANALYSIS (CBA):  
ARE MONOPOLIES ALWAYS BAD FOR CONSUMERS?  
[**PAST PAPERS**](https://readnwrite.org/product/business-a-level-paper-3-topical-past-paper/) QUESTIONS  
**UNIT 11 LABOUR MARKET**  
THE SUPPLY CURVE  
1 Curve for an Individual Worker  
2 Market Supply Curve for Labour  
3 of Labour for a Perfectly Competitive Firm:  
4 of Labour in a Monopsony  
5 of labour with a Trade Union:  
DEMAND FOR LABOUR OR MARGINAL REVENUE PRODUCT (MRP) THEORY:  
WAGE DETERMINATION IN PERFECT MARKET  
MONOPSONY  
TRADE UNION  
WAGE DIFFERENTIALS  
TRANSFER EARNINGS& ECONOMIC RENT  
PAST PAPER QUESTIONS  
**UNIT 12 INEQUALITY AND POLICIES TO REDISTRIBUTE INCOME**  
MEASURING INEQUALITY  
1 curve  
2 coefficient  
3 curve  
**GOVERNMENT POLICIES TO REDISTRIBUTE INCOME AND WEALTH**  
1 benefits (transfer payments)  
2 the tax system  
3 policies

## Details

- **Price:** 870.0 PKR
- **Vendor:** Read & Write
- **Tags:** A Level, A Level Economics, Economics, Notes, Revision Guide

## Variants

| Variant | Price | Available |
|---------|-------|-----------|
| Default Title | 870.00 PKR | In stock |

## Images

- 159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif
- 159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif
- 159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif
- 159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif
- 159 Micro Economics A2 Level Revision Notes Series Book 3 by Imran Latif

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> Source: [Read and Write Publications](https://readnwrite.org/products/micro-economics-book-3-a2-level-notes)
> Updated: 2026-09-22